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To: patron_anejo_por_favor who wrote (176992)	7/2/2002 12:24:55 PM
From: Box-By-The-Riviera™	Respond to of 436258

sure wish they'd do that today <g>

To: patron_anejo_por_favor who wrote (176992)	7/2/2002 1:22:23 PM
From: orkrious	Read Replies (2) \| Respond to of 436258

good post by scott reamer at RMpro. this is why for a while bounces are going to be anemic Effects of the Corporate Crackdown 07/02/02 01:16 PM EDT The airwaves are full of talk about how public officials (Harvey Pitt, Congress, etc.) will start to crack down criminally on corporate wrongdoers. (Pitt: "Jail time is too good for these guys.") Impact? Imagine you are a partner at an accounting firm or a director/board member of a large and complex corporation. You are doing everything you can to make sure that you stay out of the light and don't get lynched -- making sure the books are clean, making sure that if there is a mistake, it's cleared up publicly and immediately. Under that microscope and intense scrutiny almost no company is 100% clean. Accounting is a game of judgments, and when the consensus on what is "conservative" and what is "aggressive" vis-a-vis accounting shifts as quickly and radically as it has these past two months, how can anyone think we won't see another disclosure that hurts a name, a group, or the whole market before SEC docs are filed for the June quarter, which will happen in late July and early August. Is there a possibility that, under this new scrutiny, those SEC filings will be delayed? You bet. Impact? Remember Adelphia? It delayed its filing; you could have still shorted the thing and made a ton of dough.